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economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i mean, i think -- >> it was somewhere in between. >> you're talking to somebody who continued embracing marxist policies -- >> but many people thought the country was going to go all the way down, but that didn't happen. and it didn't happen that -- the social needs versus the free market. >> well, you see, i think he came to learn that it's not about balancing the free market versus social needs, that they often converge. >> he said he had to balance the fears of the white population versus the hopes of the black populatio
economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i...
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Dec 2, 2013
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is a 2% economy you see right now or 3% economy? in your view? >> right between your two numbers, in my view, joe. >> it is? >> yeah. >> so it's okay. we want it to be better, obviously. >> all right,mate. that's what you call each other there, right, mate? see ya. andrew, thanks. >>> coming up, a deadly train derailment in new york yesterday, details at 7:30. and then, what if you could send your kids to college for four years for free? that's the bold approach of the project. ceo ben nelson joins us to talk higher education in a few minutes. she loves a lot of the same things you do. it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your hea
is a 2% economy you see right now or 3% economy? in your view? >> right between your two numbers, in my view, joe. >> it is? >> yeah. >> so it's okay. we want it to be better, obviously. >> all right,mate. that's what you call each other there, right, mate? see ya. andrew, thanks. >>> coming up, a deadly train derailment in new york yesterday, details at 7:30. and then, what if you could send your kids to college for four years for free? that's the bold...
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Dec 3, 2013
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the mexican economy is coming on strong. while cheap educated labor and nafta are combining in bringing in a host of german and japanese manufacturers. and they fly to many of the towns where the new plants are being built. management assures me there are going to be many more smaller airports covered soon. they are so cheap they can actually compete with the bus lines, which is the way most people get around in mexico. this stock is a buy. last but not least, let me draw your attention to a new one. navigator holdings. nvgs. you often see wilbur ross on squawk. this shipping company transports liquefied petroleum gases like propane and butane, along with petrochemical gases like ethylene and propylene. navigator just came public two weeks ago. since then the stock has rallied another 5%. production in these liquified petroleum gases is rising rapidly in the united states, as you know, because we talk about it all the time and there is a big demand in east asia and europe. right now navigator has 23 handy-sized ships, with a
the mexican economy is coming on strong. while cheap educated labor and nafta are combining in bringing in a host of german and japanese manufacturers. and they fly to many of the towns where the new plants are being built. management assures me there are going to be many more smaller airports covered soon. they are so cheap they can actually compete with the bus lines, which is the way most people get around in mexico. this stock is a buy. last but not least, let me draw your attention to a...
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Dec 3, 2013
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their economy is growing better. but when it comes to health care, they come across the border. >> well, the wealthy and those that can afford to come across the border do. but those that can't get access to health care in america are stuck in emergency rooms with high temperatures waiting to get their children taken care of. i concede this is a mess. we may have tried too much too fast and on a partisan basis. i've said we should hit the reset button and open ourselves up to new ideas. and larry kudlow always has new ideas, even if they're conservative. >> i appreciate that and appreciate your honesty. republicans are licking their chops about the elections coming up in 2014, roughly a year from now. we're going to talk more about that later in the show. what i want to ask you is, what can you do for a simple, transparent, compassionate response to the breakdown of obama care? i have an answer. but i want you to go first. >> well, with any health reform proposal, we have to look first at the root cause of the proble
their economy is growing better. but when it comes to health care, they come across the border. >> well, the wealthy and those that can afford to come across the border do. but those that can't get access to health care in america are stuck in emergency rooms with high temperatures waiting to get their children taken care of. i concede this is a mess. we may have tried too much too fast and on a partisan basis. i've said we should hit the reset button and open ourselves up to new ideas....
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Dec 10, 2013
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gradual improvement in the economy. the key point here is can janet yellen, convince everyone that tapering is not tightening. that's what we might hear very much on that. >> that's what we need to do. >> tapering is not happening in december or january. >> under any starncircumstance s i expect them to lay the groundwork to make a clearer delineation. >> let's head to dominic chu for a market flash. >> check out shares the stock at session highs. the company says a late stage trial of its experimental hepatitis c therapy showed 96% of patients in the study showed improvement. yesterday gilead sciences had its own pill approved by the fda. it is considered by industry analysts to be the leader in the all oral hepatitis field expected to reap billions in annual sales. its stock is moving lower so competition perhaps having a hand in that trade. >> dominic, thank you very much. more wintry weather hitting the northeast. three to six inches of snow expected in some parts including the metro area of new york. weather channe
gradual improvement in the economy. the key point here is can janet yellen, convince everyone that tapering is not tightening. that's what we might hear very much on that. >> that's what we need to do. >> tapering is not happening in december or january. >> under any starncircumstance s i expect them to lay the groundwork to make a clearer delineation. >> let's head to dominic chu for a market flash. >> check out shares the stock at session highs. the company says...
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david, what does this say about the economies and the taper, if that happens, over the past week or so? obviously it's been a great year, but the past five days have been not so great. what's the market telling you? >> well, this is really consistent with the consolidation and small pullbacks we've seen over the last few months. really we think this will be short-lived and we look forward to a year-end rally and another strong year in 2014. >> so what do you think the market is reacting to? just the fact that prices had run up so far and people want to get some money off the table and take some profits? is it, as joe was saying off camera, a taper tantrum or what. >> i think to call it a tantrum is a little strong. you're seeing markets just a couple percentage points off their highs. so this is more has to do with the market digesting the recent gains and also expecting some tapering in 2014. but we don't think it's going to be severe, and we think the market's going to increase with the taper, and it's a reflection, as joe said, in stronger economic growth looking forward. >> joe, do
david, what does this say about the economies and the taper, if that happens, over the past week or so? obviously it's been a great year, but the past five days have been not so great. what's the market telling you? >> well, this is really consistent with the consolidation and small pullbacks we've seen over the last few months. really we think this will be short-lived and we look forward to a year-end rally and another strong year in 2014. >> so what do you think the market is...
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Dec 5, 2013
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but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get sales growth? remember that? what if not everything was about buybacks and dividends, but actually people got excited about wages going up, better employment. >> from your lips to god's ears. >> i'm not saying it's in the bag. i'm saying that it is a possibility. it shouldn't be completely ruled out when you have every central bank on earth throwing as many dollars as they can into the system, don't be shocked if wages tick up and if people start to spend more money. it's entirely possible. >> steve, we'll be watching closely tomorrow morning. we'll see what happens, especially on the heels of t
but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get...
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it demonstrates the economy may be improving and that the fed should be getting out of the way. >> mike, i'm sorry to interrupt. are you telling me december meeting if the fed announces tapering, that the markets will take it in stride? that's basically what you're telling me? >> i think it will take it more in stride than maybe it would a month or so ago because the numbers have been getting better in the economy. >> steve, do you agree with that? >> i agree with michael. i think the numbers have been improving all week nothing but good numbers here and starting out with the key 3 gdp, inventory bills. >> strengthening. record auto sales in november, the jobs numbers are very good here today, housing retail, everything looks good and we've been saying all along we think we're going to be tapering into strength and the market is going to see through that. i think we're using 120 next year for s&p earnings, still high relative to the street, but i think people are starting to see that as a real possibility and stocks are trading at 15 times next year relative to everything else you have
it demonstrates the economy may be improving and that the fed should be getting out of the way. >> mike, i'm sorry to interrupt. are you telling me december meeting if the fed announces tapering, that the markets will take it in stride? that's basically what you're telling me? >> i think it will take it more in stride than maybe it would a month or so ago because the numbers have been getting better in the economy. >> steve, do you agree with that? >> i agree with...
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they need to facilitate the economy. they need to be a port in the storm. but, no, they can't have a casino inside the bank. so, from that standpoint, bank ceos are put on notice. if you have a large bank with the proprietary trading loss over the next few months or couple of years, that ceo's job could be more at risk than ever before. >> but i think kate's take was that there's many, many loopholes here. some of the rules are quite subjective. would you agree with that? >> anytime a regulation like this becomes as precise as the volcker rule has become, there's always ways for many smart bankers and lawyers to get around it. i much prefer principle-based regulation. i mean, the principals can guide what happened. there will be ways around it. having said that the ceo needs to attest that they're not taking big proprietary bets. so i think if after the fact you have a big loss, banks don't get off so easily here. >> so let's get -- you know, now that this is on the table, we know what we're dealing with, many banks have been, you know, gearing up to deal w
they need to facilitate the economy. they need to be a port in the storm. but, no, they can't have a casino inside the bank. so, from that standpoint, bank ceos are put on notice. if you have a large bank with the proprietary trading loss over the next few months or couple of years, that ceo's job could be more at risk than ever before. >> but i think kate's take was that there's many, many loopholes here. some of the rules are quite subjective. would you agree with that? >> anytime...
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is that just because the economy really is booming down there? >> well, we're fortunate to be in texas for one thing, obviously. but it's more than that, it's real execution. and kind of a secret to our success, whatever success we've had, frankly, is finding the right people to execute for you. and we work hard at hiring teams from other competing organizations that can bring their business with them, and that's the organic growth we get. as you said, we haven't bought a financial institution ever. >> so this is one of the things also where you're a local bank for a state and not some out of towner? >> yes. that's exactly right, and i think that helps us too. we work hard at being local home fella to be able to do business with people that bank in texas, and we've expanded a little bit. you mentioned the mortgage warehouse business and a couple of other national businesses outside the state. but probably about 90% of our business is related to texas. >> let's talk about what is strong. we heard from one of the most -- biggest stocks today, a ret
is that just because the economy really is booming down there? >> well, we're fortunate to be in texas for one thing, obviously. but it's more than that, it's real execution. and kind of a secret to our success, whatever success we've had, frankly, is finding the right people to execute for you. and we work hard at hiring teams from other competing organizations that can bring their business with them, and that's the organic growth we get. as you said, we haven't bought a financial...
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Dec 4, 2013
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opposite the case, as the economy improves should we like stocks more? it's a first-class quandary that we have to dive into headlong on "mad money" if we're going to figure out the market's move. it's distracted and a parlor game and we find you the best stocks and the best opportunities. the only focus on the fed's next move the last three years, you missed some of the single best moments to invest in our lifetimes. i regard that as terrible. i regard it as shameful because this fed-centric world presumes that the market is one big stock that is sent higher or lower by ben bernanke and janet yellin and it's the market as a marionette. my favorite credo is the opposite. the stocks represent companies and the companies march to many different drum e not just the fed drummer. some companies do better than higher interest rates and like the minerals and oils and most important, many companies do better because their managements are smart or incentive to create value. if you spend all of your time waiting for the fed to tell you what to do -- you missed so
opposite the case, as the economy improves should we like stocks more? it's a first-class quandary that we have to dive into headlong on "mad money" if we're going to figure out the market's move. it's distracted and a parlor game and we find you the best stocks and the best opportunities. the only focus on the fed's next move the last three years, you missed some of the single best moments to invest in our lifetimes. i regard that as terrible. i regard it as shameful because this...
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here's reasons to still be concerned about the american economy. 10.9 million still unemployed. many over six months or a year. the recovery has been narrow. limited wage gains in the middle of the country, mom and pop, not benefiting and the third variable, the, quote, steroids of the fed. everyone has an opinion of how much they've mattered. we don't really know. at some point we'll find out. bring in dan greenhouse and adam grimes. welcome as well. also as well herb and steve with us. i'm going to start with you, dan. i laid out the reasons to not be optimistic. are any of those signals leaning more positive these days? >> well, you brought up reasons why the financial crisis might not be over yet but that's separate from whether or not up with would be opt mystic. those points are entirely valid. whether or not you're optimistic really results in whether or not you think there's a fundamental change in the coming let's say six to 12 months compared to the previous six to 12 months and in that regard the answer is probably no. >> what about you, adam? handing around the glass
here's reasons to still be concerned about the american economy. 10.9 million still unemployed. many over six months or a year. the recovery has been narrow. limited wage gains in the middle of the country, mom and pop, not benefiting and the third variable, the, quote, steroids of the fed. everyone has an opinion of how much they've mattered. we don't really know. at some point we'll find out. bring in dan greenhouse and adam grimes. welcome as well. also as well herb and steve with us. i'm...
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even though the economy may be a 2% economy. it's been stunning how profitable companies have been and remain -- >> stunning. >> and also their margins. >> because the shift of income has gone from labor and capital. there's big social implications. >> huge implications. >> i agree with that. and we can have that discussion separately. >> he's not trying to -- >> just wanted to make sure you were in the conversation, joe. >> counter productive to what he's trying to address. what would address it is growth. >> that's good stuff. >> people don't want another -- they want a job. minimum wage increase. >> a job that pays a certain, you know, decent living wage. >> trying to get -- >> that aren't spending, they're not going to hire as many people as before you raised it. >> if you raise the minimum wage, you get more money in 30 million people's pockets, they're going to spend money and -- >> why do you think a company does when it sees overall what it has to pay out on that side of the income statement and sees that go up. they're
even though the economy may be a 2% economy. it's been stunning how profitable companies have been and remain -- >> stunning. >> and also their margins. >> because the shift of income has gone from labor and capital. there's big social implications. >> huge implications. >> i agree with that. and we can have that discussion separately. >> he's not trying to -- >> just wanted to make sure you were in the conversation, joe. >> counter productive to...
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south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and former chairman of b.e.t., old friend of mine. robert, you met nelson mandela many times, okay. how many times did you meet him, what are your thoughts tonight as he passes away? >> yeah, i had the great and humbling pleasure of meeting president mandela on a number of occasions, first with the former commerce secretary, late ron brown, and then i also accompanied president clinton on his historic trip to sub-saharan africa and of course when president mandela came to the united states seeking to raise funds to continue to fight apartheid and support his charities. the one thing, larry, that strikes me abo
south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and...
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how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial problems that we had. what he was talking about was a connection between high income inequality, stagnant incomes for the middle class and diminished opportunity, diminished opportunity. that's what you have left out. that's essential because, look, the three of us will all agree that we in america don't push for equal outcomes but we do believe there ought to be some equality of opportunity. when inequality gets too high, opportunity gets squashed. >> that's wrong. i know that's the president's line that income has been stagnated for 40 years. that is, a, complet
how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial...
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and a little uncertainty as to where the economy is headed. we think we're fine for all the reasons i've given. i think that's what's gone on right now. i think some buyers on the sideline -- remember, november and december really aren't months when we sell a lot of homes. this is the season to be jolly. not the season to buy a home. we really need to wait until february to see where the market is. >> last question. what is the hottest region in terms of demand you're seeing around the country right now? >> i'm going to name three. new york city urban. we're on our 20th high rise in manhattan. jersey city, hoboken, brooklyn. california, coastal california for us is very strong. we just announced a huge deal we're doing out in california which is really a game-changer for the company through the acquisition of shapelle properties and dallas and houston, texas, are doing very well. >> tells you something about what's happening around the country. douglas yearley, thank you for joining us today. appreciate it. >> thanks for having me. >> 12 minut
and a little uncertainty as to where the economy is headed. we think we're fine for all the reasons i've given. i think that's what's gone on right now. i think some buyers on the sideline -- remember, november and december really aren't months when we sell a lot of homes. this is the season to be jolly. not the season to buy a home. we really need to wait until february to see where the market is. >> last question. what is the hottest region in terms of demand you're seeing around the...
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economy could outperform it might be 2014. i think we should say, governor that it almost has to be 2014. we need to see that priming of the purpose, whatever you want to call it really broaden out to disposable income gains. >> i think that's true. i think bernanke has done an incredible job when you see what's happening in europe to have the chairman of the fed, very fortuitous. i don't begrudge the fact we picked up on the wrong people that didn't need it and got the money -- >> people will say, the wrong people. >> well the people who didn't need it got the money. >> right. >> because i think what he was trying to do is avoid what happened in japan, which is an inflationary crisis. the problem now is challenge, how do you figure how do you get the rest of the 90%? it's much tougher problem than people think because the real problem is housing. if you look at the housing market, the same people that owned the housing market have not come back and a whole lot less people in houses -- >> if the president came to you today and
economy could outperform it might be 2014. i think we should say, governor that it almost has to be 2014. we need to see that priming of the purpose, whatever you want to call it really broaden out to disposable income gains. >> i think that's true. i think bernanke has done an incredible job when you see what's happening in europe to have the chairman of the fed, very fortuitous. i don't begrudge the fact we picked up on the wrong people that didn't need it and got the money -- >>...
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if the economy is better, that should be better for stocks. i think the simple message is one to focus on. >> i'll quote from your note here, the only thing people are worried about is that no one is worried about anything and that isn't a real worry. >> yes. >> are you a true believer or you can't find anything to be negative about? >> the thing you want to focus on is what could cause volatility in the earnings estimates. what i learned and we got bullish about nine, ten, 11 months ago, i didn't see what could cause big volatility to the downside in earnings. to me the biggest risk from rates backing up is that you could get weakness in emerging markets. we've seen some of the big tech companies tell you that emerging market demand slow. that's the biggest and most realistic risk. the second would be they start tapering and you get a soft patch in the economy and you can't stick the taper back in the bottle so to speak. those are the realistic risk. in the interim, it seems like earnings will grow and the economy will be better in the first
if the economy is better, that should be better for stocks. i think the simple message is one to focus on. >> i'll quote from your note here, the only thing people are worried about is that no one is worried about anything and that isn't a real worry. >> yes. >> are you a true believer or you can't find anything to be negative about? >> the thing you want to focus on is what could cause volatility in the earnings estimates. what i learned and we got bullish about nine,...
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canada's economy is growing at its fastest pace in the past two years. it's not just the birthplace of gosling, celine and bieber, it may be home to some of the best stocks you've never heard of. cramer reveals the canadian club, just ahead. >>> plus, tequila time. the holidays are here, and that means presents, decorations and lots of booze. americans bought almost $20 billion worth of liquor this year, but could a stiff drink lead to a solid return? cramer gets in the spirit with the founder of avion when he goes off the tape. all coming up on "mad money." >>> don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. and ah, so you can see like right here i can just... you know, check my policy here, add a car, ah speak to customer service, check on a claim...you know, all with the ah, tap of my geico app. oh, that's so cool. well, i would disagree with you but, ah, that would make me
canada's economy is growing at its fastest pace in the past two years. it's not just the birthplace of gosling, celine and bieber, it may be home to some of the best stocks you've never heard of. cramer reveals the canadian club, just ahead. >>> plus, tequila time. the holidays are here, and that means presents, decorations and lots of booze. americans bought almost $20 billion worth of liquor this year, but could a stiff drink lead to a solid return? cramer gets in the spirit with the...
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the canada's economy is the best in the last few years. while it's stoked by business investment and strong consumer spending. the canadian stock market has been on -- it's been a real dog for a while now. it's underperformed the s&p 500 for the last three years. only up 7.1% in 2013. the third worst of any developing country. meanwhile, the canadian dollar has been crushed with one equal to 1.95 u.s. cents. but if the canadian economy is coming back as the gross domestic product numbers suggest then the incredible underperformance could smack of a real opportunity here. yes, it might be time to play catch-up. as our neighbors to the north begin to pick up the steam. that's why tonight we're taking a page from the canadian national anthem. you know, o canada, glorious and free. o canada, we pick our stocks from thee. specifically i have hand picked seven high quality canadian stocks that i think you should consider away from the united states. i'm crowning seven stocks. in fact, sticking with the spirits metaphor, i'm creating my very own
the canada's economy is the best in the last few years. while it's stoked by business investment and strong consumer spending. the canadian stock market has been on -- it's been a real dog for a while now. it's underperformed the s&p 500 for the last three years. only up 7.1% in 2013. the third worst of any developing country. meanwhile, the canadian dollar has been crushed with one equal to 1.95 u.s. cents. but if the canadian economy is coming back as the gross domestic product numbers...
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you have to emphasize that, because the economy's improving. we're going to see, in my view, good earnings growth next year, not just margin expansion at corporate -- on corporate business model. >> sarat is here. his core fund is up more than 30%. welcome back. good to see you. >> thank you. >> how do you now approach the market with tapering getting closer and closer and closer? >> so i think what you gentlemen have been talking about is exactly right. you want to look at companies that are going to grow, not just top line but also the bottom line now. and forget about all of the cost cutting. and where you're going to see, to simon's point, take money off the table, take money off the table that have been fixed income substitutions. these 4%, 5% dividend yielders not growing the payout ratio, trading at 17, 18 times earnings, and you'll find them in the staples, in the other select telecom. you want to move to discretionary, cyclicals, and the industrials, as well. >> it doesn't sound like your investment philosophy is going to change all th
you have to emphasize that, because the economy's improving. we're going to see, in my view, good earnings growth next year, not just margin expansion at corporate -- on corporate business model. >> sarat is here. his core fund is up more than 30%. welcome back. good to see you. >> thank you. >> how do you now approach the market with tapering getting closer and closer and closer? >> so i think what you gentlemen have been talking about is exactly right. you want to look...
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what matters to this company is the economy has to do well. the economy xwigz is going to d little better in 2014 and 2015. 2.7 then 3% growth. it's still going to be fairly anemic growth when compared to other post-war recoveries. so still wait for good relative performance before you jump on this one. >> all right. ryder what's our last one? i think it's ibm. what do you think, ryder? yep. ibm. give that dog a bone. he's been really good. shares of the computer services company, volatile this year, down about 11%. hugh, why don't you take ibm first. >> ibm, strorts about ibm, what happened in 2013 especially the third quarter, is emerging markets business in china. china down 22% to revenues. emerging markets down 9 %. what we're going to get in 2014 is i think a turn in china and i think that's written in the cards but i don't think we're going to see it in the emerging markets. so i think it's okay. you can buy ibm here and cross your fingers, look for positive relative performance, falling knife there too. wait for positive relative perfo
what matters to this company is the economy has to do well. the economy xwigz is going to d little better in 2014 and 2015. 2.7 then 3% growth. it's still going to be fairly anemic growth when compared to other post-war recoveries. so still wait for good relative performance before you jump on this one. >> all right. ryder what's our last one? i think it's ibm. what do you think, ryder? yep. ibm. give that dog a bone. he's been really good. shares of the computer services company,...
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rowe price we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information risks, fees and expenses to read and consider carefully before investing. >>> eight >>> eight minutes left in the selling session. we're down 85 now 88 points on the dow. that's the lows of the session right there. pulling back from those all-time highs we had been seeing early last week. joining us to talk about the markets, jeff from raymond james and bob pisani as well. jeff, you're thinking about taxes. you think that's what's going on? people doing tax planning before the end of the year? >> the people i talked to on the retail side are talking about not selling, trying to carry profits into next year. that's what we see on the retail side. my timing models that called for pullback, are calling for a pullback here. they say it's a go ahead time to be cautious. if you get a pullback i thin
rowe price we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information risks, fees and expenses to read and consider carefully before investing. >>> eight >>> eight minutes left in the selling session. we're down 85 now 88 points on the dow. that's the lows of the session right there....
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economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that will lead into the bank of england decision, as well. >>> the japanese cabinet has approved a stimulus package worth $182 billion. we have the story from tokyo. >> hi, ross. this massive package is expected to push up the nation's real gdp by around 1%. government spending is to total around $54 billion. $13 billion or 25% of this will be allocated to help improve competitiveness of japanese industries and to strengthen metropolitan functions ahead of the 2020 tokyo olympics. the rest will be spent on things like reconst
economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that...
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exports saved the economy from contraction. but the 0.6% growth rate on the quarter still missed market expectations and that's why the aussie/dollar is lower again this morning. it was down to 90.18. >>> feel free to take note. australians struck a deal not to raise it, but to scrap it. the government wanted an increase, but decided to remove it completely. as for the agenda in asia tomorrow, peter decided to return to bangkok. south korea posted revised third quarter gdp figures. while in the philippines, we'll see what kind of inflationary affect high foon haiyan brought. >>> european equities steady at the moment. heavy data today. also still to come, iran and iraq are looking to boost oil production. will saudi arabia look over and cut its own supply? we'll get the latest from vienna. and the christmas tree lights are going on in new york today, as well. >>> this is "worldwide exchange." i'm ross westgate. >> who has to accommodate the iranian markets? >> the markets. >> but not just opec. but there are concerns that iraq
exports saved the economy from contraction. but the 0.6% growth rate on the quarter still missed market expectations and that's why the aussie/dollar is lower again this morning. it was down to 90.18. >>> feel free to take note. australians struck a deal not to raise it, but to scrap it. the government wanted an increase, but decided to remove it completely. as for the agenda in asia tomorrow, peter decided to return to bangkok. south korea posted revised third quarter gdp figures....
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economy does well, many of these companies are really fairly independent of their local economy. they're selling products to us, the chinese and the asians. >> do you believe that people panicked and overshot? when the financial market collapse happened and we went to europe and talked about the problems with commerce bank and all these issues, greek debt seeping through like a virus in the banking system, everybody dumped stop stocks. if you look at the volkswagens of the world, a quarter of their sales are maybe in continental europe. they're not really european companies. >> absolutely correct, that's right. >> tobias, your view on that? i want to focus on europe. but also if you don't like europe, who do you like? >> well, we do like the u.s. we do like the uk within europe. our global team, we like e.m. in latin america, we're not that excited. we think it's more asia. even in latin america, it's more mexico over brazil. i'm really talking to our global guys, this is what they do, more of their focus and their work. and by the way, i agree with bruno. i'm looking for the com
economy does well, many of these companies are really fairly independent of their local economy. they're selling products to us, the chinese and the asians. >> do you believe that people panicked and overshot? when the financial market collapse happened and we went to europe and talked about the problems with commerce bank and all these issues, greek debt seeping through like a virus in the banking system, everybody dumped stop stocks. if you look at the volkswagens of the world, a...
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we have the economy, we have stocks and we have rates. it's been less than an hour since the dow jones industrial average floated into positive territory. it was under pressure after the good data, and we all know why. but what we don't know is maybe why it had nothing to do with the data or getting used to the stronger data. i think we'll have to listen to john harwood. there's humbli ae's rum blings washington. i'll tell you where it gets complicated. fed drama. no matter if you agree with the programs, disagree with the programs, they they've been useful, none of that really matters. we used to go from the economy being strong to making stocks strong to pushing rates up. that's why everybody says, hey, if rates are going up that's a good thing. traditionally absolutely. now? well, who knows? it could be, but here's the problem. with the fed drama and i'm not saying they want drama but they have a $4 trillion balance sheet, interest rates on reserves, a lot of balls in the air to juggle. but here's the problem. let's say that's stock pr
we have the economy, we have stocks and we have rates. it's been less than an hour since the dow jones industrial average floated into positive territory. it was under pressure after the good data, and we all know why. but what we don't know is maybe why it had nothing to do with the data or getting used to the stronger data. i think we'll have to listen to john harwood. there's humbli ae's rum blings washington. i'll tell you where it gets complicated. fed drama. no matter if you agree with...
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we finally gotten to the point where it's the economy. >> i know the fed feels like. >> the economy, not the taper. >> the fed feels like the progress it has gained in convincing the market about tapering, not tightening has been hard-earned, but they think they've earned it at this point. >> and the underlying economy looks better. >> i want to introduce our guest host right now because i want his comments on this. ken langone is here, the co-founder of home depot. ken? >> where is your factor of the consumer's confidence in all these numbers? >> i think -- >> because, frankly, frankly it's tepid at best. >> right. confidence is tepid but it's also tentative in the sense that it's something that can change quickly. what we see, ken, is growing household wealth. what we don't have is a propensity on the part of the consumer to spend that money and the confidence to spend it and/or to borrow. we still seem to be in a deleveraging thing. in a deleveraging phase right now. but if the consumers have the wealth, then you can have the confidence to spend it over t e time. the connection be
we finally gotten to the point where it's the economy. >> i know the fed feels like. >> the economy, not the taper. >> the fed feels like the progress it has gained in convincing the market about tapering, not tightening has been hard-earned, but they think they've earned it at this point. >> and the underlying economy looks better. >> i want to introduce our guest host right now because i want his comments on this. ken langone is here, the co-founder of home...
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but the broader economy making some headlines here. gdp revised up to six. there's questions about stockpiling, as well. the ten-year did pick up the 287 off just a touch now. the ecb hold rates steady. our road map this morning, the market, strong gdp claims data putting pressures ahead and sparking more concerns about potential fed tapering. >> apple is in the news for reports ooh a deal to china mobile and carl icahn is revising his call for a share buyback. >> we'll look at the winners and losers in retail. >> wow. >> first up, though, the ten-year notarizing on better than expected economic data, revised third quarter gdp up 3.6 while weekly jobless claims fell below 300k. this all happened on the 17th anniversary of alan greenspan's irrational exuberance speech in 1996. >> how do we know when irrational exuberance has unduly escalated asset values which then become subject to unexpected and prolonged contractions as they have in japan over the past decade. >> that leads us to a good question, jim. last night, you all you did was talk about the data get
but the broader economy making some headlines here. gdp revised up to six. there's questions about stockpiling, as well. the ten-year did pick up the 287 off just a touch now. the ecb hold rates steady. our road map this morning, the market, strong gdp claims data putting pressures ahead and sparking more concerns about potential fed tapering. >> apple is in the news for reports ooh a deal to china mobile and carl icahn is revising his call for a share buyback. >> we'll look at the...
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maybe the economy is a little weaker. that's certainly not saying taper. >> neither is the dollar or gold. >> i'm not going to get involved in taper. i don't care anymore. to me it's earning, no earnings. that's what's going on, that's how the market has changed. i see ge down, ford down, europe is down and these companies are now regarded as international companies. i think gm is a great opportunity to buy. the taper/no taper i've been saying on "mad money," taper/no taper. you want to try to make money? focus on companies. bob olsteen, excellent interview. >> some companies giving guidance. texan did narrow their guidance. they saw 44 to 48 new guidance, previous 42-50. >> micron, a quarter ahead. cypress, it a situation people criticized for sticking with t.j. rogers, i've seen that stock starting to percolate. i like the personal computer space but i like tech very much. >> we'll talk a lot more about the volcker rule vote today and mary barra, the new ceo of general motors. let's get a look at the opening bell at the
maybe the economy is a little weaker. that's certainly not saying taper. >> neither is the dollar or gold. >> i'm not going to get involved in taper. i don't care anymore. to me it's earning, no earnings. that's what's going on, that's how the market has changed. i see ge down, ford down, europe is down and these companies are now regarded as international companies. i think gm is a great opportunity to buy. the taper/no taper i've been saying on "mad money," taper/no...